Ningbo Shun Tong Group Co.,Ltd. entered into an agreement to acquire a 5.04% stake in Zhenhai Petrochemical Engineering CO., LTD (SHSE:603637) from Zhao Liwei, Fan Qihai, Fan Xiaomei, Weng Wei and others for approximately CNY 180 million on January 12, 2022. Ningbo Shun Tong Group Co., Ltd. will acquire 12,289,331 shares at CNY 14.2786 per share. The consideration will be paid in cash.

Beijing Kang Da Law Firm acted as legal advisor to Zhenhai Petrochemical Engineering CO., LTD (SHSE:603637).